|
International Public Partnerships Ltd on Monday it has reached financial close on the sale of a minority stake in the Moray East offshore transmission owner to Daiwa Energy & Infrastructure Co Ltd. The London-based global infrastructure investor said it has realised £42 million in exchange for a 49% shareholding in the transaction, which was announced in December. The Moray East offshore transmission owner relates to the offshore electricity assets connecting the 950 megawatt Moray East wind farm located 22 kilometres off the Caithness Coast to the national grid. International PPL said the sale price was at a premium to the firm’s last published valuation. It will retain a majority stake of 51% including majority board representation. The investment adviser, Amber Infrastructure, will continue to manage the asset on behalf of Daiwa. The majority of the proceeds from this partial disposal are expected to fund the firm’s next commitment in the previously announced Sizewell C investment, as well as fund its continuing share buyback programme. International PPL said it has realised £387 million of proceeds since July 2023, equivalent to around 14% of the portfolio. Shares in International Public Partnerships were up 0.1% at 129.28 pence on Monday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
